The owners of Mt Iron have set out a plan to create a public reserve on the outstanding natural feature, which could eventually come under public ownership.
Allenby Farms Ltd owns large amounts of land on and around Mt Iron. It has made a submission to the council's proposed district plan to make 75ha of its land into a protected area.
The Department of Conservation already manages a large part of the land surrounding Mt Iron and the walking track leading to the summit.
The submissions were heard yesterday on day eight of the Upper Clutha mapping hearings on the proposed district plan.
Allenby director Lyndon Cleugh told the commissioners his family were ready to wind down their development activities and create a legacy that would benefit the Wanaka community.
The family had recently acquired the neighbouring Little Mt Iron property for the sole purpose of including it in the protected area.
In his evidence, Mr Cleugh said that in an ideal world, the whole of Mt Iron, Little Mt Iron and the Doc estate would be managed and owned by the council, but he understood it was a discussion for a later date.
If the submission was accepted, it would create the opportunity for that to happen later.
Included in the submission was the creation of up to seven new walking tracks as well as more public access to the feature.
Other proposals submitted by Allenby would see the removal of a restricted building area on land owned by the company at the entrance to Wanaka adjoining State Highway 84.
While there were no plans to develop this land, Mr Cleugh said he did not see any justification for depriving the company of applying for consent to build a house or farm buildings on the land.
They also wanted to alter the significant natural area and outstanding natural feature zones around the base of Mt Iron so about 19ha of land could be rezoned rural lifestyle.
If it was rezoned, the company planned to develop 12 new sections on the land close to Allenby's Hidden Hills development.
Allenby's lawyer, Warrick Goldsmith, told the commissioners the plan was very detailed and complex but had been well thought out.
The Cleughs were trying to create a public park for the Wanaka community at no cost to the community, Mr Goldsmith said.
In his rebuttal of the evidence submitted by Allenby Farm, QLDC senior planner Craig Barr said while the proposals to formalise pubic access and enhance the walking tracks on Mt Iron were positive, they would not outweigh the costs to the community arising from additional housing proposals.
Mr Barr also recommended the restricted building area at the entrance to the Wanaka township be retained.
